SUBMISSION ON THE MEDIUM-TERM DEBT STRATEGY (MTDS) 2025.

We refer to the public notice released by the National Treasury on the 25th of January 2025 requesting submissions on the 2025 Medium Term Debt Management Strategy. Among other things, we have prepared a submission proposing the sinking fund alternative from the ever-rising interest payment rates, acceleration of the fiscal consolidation through ordinary revenue and rationalization of expenditure, realistic GDP growth projections, and the independence of the Public Debt Management Office from the National Treasury and Economic Planning.